Banque Cantonale Vaudoise Trims Holdings in Arthur J. Gallagher & Co. (NYSE:AJG)

Banque Cantonale Vaudoise decreased its stake in Arthur J. Gallagher & Co. (NYSE:AJGFree Report) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,791 shares of the financial services provider’s stock after selling 275 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Arthur J. Gallagher & Co. were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AJG. Norges Bank bought a new position in shares of Arthur J. Gallagher & Co. during the fourth quarter valued at approximately $1,431,788,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Arthur J. Gallagher & Co. by 670.4% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,302,593 shares of the financial services provider’s stock worth $286,010,000 after buying an additional 1,133,502 shares during the period. Morgan Stanley lifted its holdings in Arthur J. Gallagher & Co. by 40.6% during the 4th quarter. Morgan Stanley now owns 2,143,144 shares of the financial services provider’s stock valued at $404,069,000 after buying an additional 619,008 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Arthur J. Gallagher & Co. by 7,923.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 298,871 shares of the financial services provider’s stock worth $68,122,000 after acquiring an additional 295,146 shares in the last quarter. Finally, State Street Corp increased its position in shares of Arthur J. Gallagher & Co. by 3.0% during the second quarter. State Street Corp now owns 8,940,318 shares of the financial services provider’s stock worth $1,963,026,000 after acquiring an additional 262,187 shares during the period. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Arthur J. Gallagher & Co. Stock Performance

AJG opened at $234.05 on Wednesday. The company has a market cap of $50.53 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.14 and a beta of 0.69. The firm’s fifty day simple moving average is $233.02 and its two-hundred day simple moving average is $232.25. The company has a quick ratio of 1.04, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Arthur J. Gallagher & Co. has a 52-week low of $174.45 and a 52-week high of $254.00.

Arthur J. Gallagher & Co. (NYSE:AJGGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. Arthur J. Gallagher & Co. had a return on equity of 18.49% and a net margin of 9.63%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business earned $1.54 earnings per share. Equities analysts anticipate that Arthur J. Gallagher & Co. will post 10.1 earnings per share for the current fiscal year.

Arthur J. Gallagher & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.60 dividend. This is a boost from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, February 29th. Arthur J. Gallagher & Co.’s dividend payout ratio is presently 49.55%.

Insider Activity at Arthur J. Gallagher & Co.

In related news, CFO Douglas K. Howell sold 11,800 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $247.22, for a total value of $2,917,196.00. Following the completion of the transaction, the chief financial officer now directly owns 117,942 shares in the company, valued at $29,157,621.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Douglas K. Howell sold 11,800 shares of Arthur J. Gallagher & Co. stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $247.22, for a total value of $2,917,196.00. Following the completion of the sale, the chief financial officer now owns 117,942 shares in the company, valued at approximately $29,157,621.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas K. Howell sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $226.59, for a total value of $3,398,850.00. Following the transaction, the chief financial officer now owns 102,942 shares in the company, valued at $23,325,627.78. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on Arthur J. Gallagher & Co. from $238.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Truist Financial upped their price objective on shares of Arthur J. Gallagher & Co. from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Wells Fargo & Company raised their target price on shares of Arthur J. Gallagher & Co. from $237.00 to $261.00 and gave the company an “overweight” rating in a research report on Tuesday, October 17th. Keefe, Bruyette & Woods cut their price objective on shares of Arthur J. Gallagher & Co. from $249.00 to $246.00 and set an “underperform” rating on the stock in a report on Friday, January 26th. Finally, Raymond James lowered Arthur J. Gallagher & Co. from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.62.

Check Out Our Latest Research Report on Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. Profile

(Free Report)

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to businesses and organizations worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.

See Also

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Institutional Ownership by Quarter for Arthur J. Gallagher & Co. (NYSE:AJG)

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